Tencent Music Entertainment Group (TME) reported CN¥32.90B of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 15.8% from the year before.

Yes. Tencent Music Entertainment Group earned CN¥11.06B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 33.6%.

How much cash and debt does TME have?

Tencent Music Entertainment Group reported CN¥8.47B in cash and cash equivalents on its most recent balance sheet in SEC filings.

How fast is TME revenue growing?

Tencent Music Entertainment Group's revenue changed +15.8% in fiscal 2025, to CN¥32.90B. Its compound annual growth rate was +2.4% over 5 years.

What is TME gross margin?

Tencent Music Entertainment Group's gross profit was CN¥14.54B on CN¥32.90B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 44.2%.

What is TME free cash flow?

Tencent Music Entertainment Group generated CN¥9.93B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of CN¥10.23B less capital expenditures.

When did TME last report financial results?

The latest statements here come from Tencent Music Entertainment Group's 20-F filed on Apr 17, 2026, covering the period ended Dec 31, 2025.

Financials · TME

Tencent Music Entertainment Group (TME) financials

For fiscal 2025 (ended Dec 31, 2025), Tencent Music Entertainment Group reported CN¥32.90B of revenue and CN¥11.06B of net income. Figures are in CNY, the currency of its SEC filings.

Revenue, FY2025: CN¥32.90B
Revenue growth, YoY: +15.8%
Net income, FY2025: CN¥11.06B
Net income growth, YoY: +66.4%
Net margin: 33.6%
Free cash flow, FY2025: CN¥9.93B
Cash: CN¥8.47B

Annual revenueCN¥32.90B

FY2016FY2025

Annual net incomeCN¥11.06B

FY2016FY2025

Annual free cash flowCN¥9.93B

FY2016FY2025

TME revenue and earnings growth

TME revenueFY2025CN¥32.90B

FY YoY: +15.8%
5Y CAGR: +2.4%

TME revenue was CN¥32.90B for fiscal 2025 (ended Dec 31, 2025), up 15.8% from fiscal 2024. Compound annual growth was +2.4% over 5 years. It rose in 7 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

TME net incomeFY2025CN¥11.06B

FY YoY: +66.4%
5Y CAGR: +21.6%

TME net income was CN¥11.06B for fiscal 2025 (ended Dec 31, 2025), up 66.4% from fiscal 2024. Compound annual growth was +21.6% over 5 years. It rose in 8 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

TME free cash flowFY2025CN¥9.93B

FY YoY: -0.3%
5Y CAGR: +15.8%

TME free cash flow was CN¥9.93B for fiscal 2025 (ended Dec 31, 2025), down 0.3% from fiscal 2024. Compound annual growth was +15.8% over 5 years. It rose in 6 of the last 9 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	CN¥32.90B	CN¥28.40B	CN¥27.75B	CN¥28.34B	CN¥31.24B	CN¥29.15B	CN¥25.43B	CN¥18.98B	CN¥10.98B	CN¥4.36B
Cost of revenue	CN¥18.37B	CN¥16.38B	CN¥17.96B	CN¥19.57B	CN¥21.84B	CN¥19.85B	CN¥16.76B	CN¥11.71B	CN¥7.17B	CN¥3.13B
Gross profit	CN¥14.54B	CN¥12.03B	CN¥9.79B	CN¥8.77B	CN¥9.40B	CN¥9.30B	CN¥8.67B	CN¥7.28B	CN¥3.81B	CN¥1.23B
Research and development	CN¥2.32B	CN¥2.28B	CN¥2.52B	CN¥2.58B	CN¥2.34B	CN¥1.67B	CN¥1.16B	CN¥937.00M	CN¥797.00M	CN¥449.00M
Selling, general and admin	CN¥3.92B	CN¥3.81B	CN¥4.12B	CN¥4.41B	CN¥4.01B	CN¥3.10B	CN¥2.70B	CN¥2.26B	CN¥1.52B	CN¥783.00M
Operating income	CN¥13.36B	CN¥8.71B	CN¥6.06B	CN¥4.44B	CN¥3.80B	CN¥4.71B	CN¥4.62B	CN¥2.04B	CN¥1.59B	CN¥103.00M
Interest expense	CN¥129.00M	CN¥94.00M	CN¥141.00M	CN¥108.00M	CN¥121.00M	CN¥97.00M	CN¥64.00M	CN¥35.00M	-	-
Pre-tax income	CN¥13.28B	CN¥8.71B	CN¥6.04B	CN¥4.37B	CN¥3.63B	CN¥4.63B	CN¥4.54B	CN¥2.00B	CN¥1.60B	CN¥114.00M
Income tax	CN¥1.92B	CN¥1.60B	CN¥825.00M	CN¥534.00M	CN¥417.00M	CN¥456.00M	CN¥563.00M	CN¥171.00M	CN¥278.00M	CN¥29.00M
Net income	CN¥11.06B	CN¥6.64B	CN¥4.92B	CN¥3.68B	CN¥3.03B	CN¥4.16B	CN¥3.98B	CN¥1.83B	CN¥1.33B	CN¥82.00M
Diluted shares	3.11B	3.13B	3.17B	3.23B	3.36B	3.36B	3.35B	3.16B	2.64B	1.90B

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	CN¥8.47B	CN¥13.16B	CN¥13.57B	CN¥9.55B	CN¥6.59B	CN¥11.13B	CN¥15.43B	CN¥17.36B	CN¥5.17B	CN¥3.07B
Inventory	CN¥41.00M	CN¥23.00M	CN¥8.00M	CN¥14.00M	CN¥24.00M	CN¥18.00M	CN¥26.00M	CN¥35.00M	CN¥30.00M	-
Current assets	CN¥32.46B	CN¥34.54B	CN¥29.94B	CN¥26.56B	CN¥26.79B	CN¥31.69B	CN¥26.91B	CN¥20.78B	CN¥7.47B	-
Goodwill	CN¥20.52B	CN¥19.65B	CN¥19.54B	CN¥19.49B	CN¥19.12B	CN¥17.49B	CN¥17.14B	CN¥17.09B	CN¥16.26B	CN¥15.76B
Total assets	CN¥102.52B	CN¥90.44B	CN¥75.54B	CN¥67.01B	CN¥67.25B	CN¥68.27B	CN¥52.68B	CN¥44.60B	CN¥30.00B	-
Current liabilities	CN¥14.59B	CN¥16.55B	CN¥12.01B	CN¥11.72B	CN¥10.45B	CN¥9.60B	CN¥8.49B	CN¥6.24B	CN¥3.53B	-
Total debt	-	-	CN¥5.64B	CN¥5.54B	CN¥5.06B	CN¥5.17B	-	-	-	-
Total liabilities	CN¥19.47B	CN¥20.72B	CN¥18.33B	CN¥17.88B	CN¥16.20B	CN¥15.54B	CN¥9.00B	CN¥6.83B	CN¥3.85B	-
Shareholders' equity	CN¥80.29B	CN¥67.86B	CN¥57.20B	CN¥49.13B	CN¥51.05B	CN¥52.73B	CN¥43.68B	CN¥37.77B	CN¥26.15B	CN¥20.63B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	CN¥10.23B	CN¥10.28B	CN¥7.34B	CN¥7.48B	CN¥5.24B	CN¥4.88B	CN¥6.20B	CN¥5.63B	CN¥2.50B	CN¥873.00M
Capital expenditures	CN¥305.00M	CN¥319.00M	CN¥165.00M	CN¥85.00M	CN¥159.00M	CN¥108.00M	CN¥95.00M	CN¥132.00M	CN¥75.00M	CN¥41.00M
Free cash flow	CN¥9.93B	CN¥9.96B	CN¥7.17B	CN¥7.40B	CN¥5.08B	CN¥4.78B	CN¥6.11B	CN¥5.50B	CN¥2.42B	CN¥832.00M
Investing cash flow	-CN¥10.23B	-CN¥6.82B	-CN¥1.86B	-CN¥1.45B	-CN¥6.00B	-CN¥14.21B	-CN¥8.10B	-CN¥1.19B	-CN¥483.00M	CN¥496.00M
Financing cash flow	-CN¥4.65B	-CN¥3.83B	-CN¥1.54B	-CN¥3.42B	-CN¥3.71B	CN¥5.29B	-CN¥31.00M	CN¥7.74B	CN¥99.00M	CN¥1.71B
Share repurchases	CN¥390.00M	CN¥1.93B	CN¥1.25B	CN¥3.13B	CN¥3.48B	CN¥134.00M	-	-	-	-
Stock-based compensation	CN¥669.00M	CN¥596.00M	CN¥649.00M	CN¥665.00M	CN¥647.00M	CN¥569.00M	CN¥519.00M	CN¥487.00M	CN¥362.00M	CN¥170.00M
Depreciation and amortization	CN¥1.38B	CN¥978.00M	CN¥1.00B	CN¥1.16B	CN¥1.00B	CN¥824.00M	CN¥583.00M	CN¥369.00M	CN¥379.00M	CN¥236.00M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	15.8%	2.3%	-2.1%	-9.3%	7.2%	14.6%	34.0%	72.9%	151.8%	-
Net income growth, YoY	66.4%	35.0%	33.8%	21.4%	-27.1%	4.3%	117.2%	38.2%	1517.1%	-
Gross margin	44.2%	42.3%	35.3%	31.0%	30.1%	31.9%	34.1%	38.3%	34.7%	28.3%
Operating margin	40.6%	30.7%	21.8%	15.7%	12.2%	16.2%	18.2%	10.7%	14.5%	2.4%
Net margin	33.6%	23.4%	17.7%	13.0%	9.7%	14.3%	15.7%	9.7%	12.1%	1.9%
Free cash flow margin	30.2%	35.1%	25.8%	26.1%	16.3%	16.4%	24.0%	29.0%	22.1%	19.1%
Return on equity	13.8%	9.8%	8.6%	7.5%	5.9%	7.9%	9.1%	4.9%	5.1%	0.4%
Return on assets	10.8%	7.3%	6.5%	5.5%	4.5%	6.1%	7.6%	4.1%	4.4%	-
Current ratio	2.22	2.09	2.49	2.27	2.56	3.30	3.17	3.33	2.12	-
Debt to equity	-	-	0.10	0.11	0.10	0.10	-	-	-	-

Source: XBRL data Tencent Music Entertainment Group files with the SEC, latest filing dated Apr 17, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

TME peers

Company	Revenue	Growth	Net income	Net margin	Market cap
TME	CN¥32.90B	+15.8%	CN¥11.06B	33.6%	$15.05B
SPOTSpotify Technology S.A.	€17.19B	+9.7%	€2.21B	12.9%	$127.08B
SKYDSkydance Corporation	$28.76B	-	-$14.00M	-0.0%	$40.41B
FOXAFox Corporation	$17.96B	+9.0%	$2.03B	11.3%	$28.11B
FWONKLiberty Media Corporation	$4.48B	+10.9%	$558.00M	12.5%	$26.66B
FWONALiberty Media Corporation	$4.48B	+10.9%	$558.00M	12.5%	$25.32B
FOXFox Corporation	$17.96B	+9.0%	$2.03B	11.3%	$25.10B
SIRISiriusXM Holdings Inc.	$8.60B	+0.5%	$900.00M	10.5%	$10.90B
NXSTNexstar Media Group Inc.	$6.81B	+32.3%	$373.00M	5.5%	$5.85B

TME FAQ

8 questions

What is TME revenue?
Tencent Music Entertainment Group (TME) reported CN¥32.90B of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 15.8% from the year before.
Is TME profitable?
Yes. Tencent Music Entertainment Group earned CN¥11.06B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 33.6%.
How much cash and debt does TME have?
Tencent Music Entertainment Group reported CN¥8.47B in cash and cash equivalents on its most recent balance sheet in SEC filings.
How fast is TME revenue growing?
Tencent Music Entertainment Group's revenue changed +15.8% in fiscal 2025, to CN¥32.90B. Its compound annual growth rate was +2.4% over 5 years.
What is TME gross margin?
Tencent Music Entertainment Group's gross profit was CN¥14.54B on CN¥32.90B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 44.2%.
What is TME free cash flow?
Tencent Music Entertainment Group generated CN¥9.93B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of CN¥10.23B less capital expenditures.
When did TME last report financial results?
The latest statements here come from Tencent Music Entertainment Group's 20-F filed on Apr 17, 2026, covering the period ended Dec 31, 2025.
Where does this TME financial data come from?
Quantisnow builds these statements from the structured XBRL data Tencent Music Entertainment Group files with the SEC. It is provided for information only and is not investment advice.